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and republican house speaker john boehner are talking about a new spirit of cooperation. but there are battles ahead and we have a team of correspondents covering this fresh start with old players in washington. first, nancy cordes with the president. >> reporter: the president and his family boarded air force one in chicago this afternoon after a visit to campaign headquarters where president obama embraced his campaign manager, jim messina, and elated staffers and volunteers. despite all the talk beforehand of a razor tight race, in the end president obama captured all but two of the states he won in 2008. i just spoke with governor romney and i congratulated him and paul ryan on a hard-fought campaign. (applause) we may have battled fiercely, but it's only because we love this country deeply and we care so strongly about its future. >> reporter: before a cheering crowd of thousands in south chicago, president obama laid out an ambitious second-term agenda: deficit reduction, tax code reform, immigration reform, and energy independence. big goals that have inspired and divided the two partie
room here because boehner has put new tax revenues on the table. so i asked the speaker today: what is the difference between rates and revenues? and he explained republicans might raise revenues by cutting tax deductions. could you give us an idea, any more examples of where you're les g with that? because if tax rates are not on e,e table, are you talking about going after deductions? >> it's clear that there are a lot of special interest loopholes in the tax code-- both corporate and personal. it's also clear that there are all kinds of deductions, some of which makes sense, others don't. >> reporter: two of the biggest deductions in the tax code are the mortgage interest tax deduction and the health insurance that workers get from rs tr employers tax free. what boehner is suggesting was proposed by mitt romney in the campaign. essentially raising taxes on the rich by limiting what they take off their taxes. the president has dismissed this approach before because these same deductions also help the middle-class. so what we're seeing now is a classic negotiation, scott. cl both s
now. >> reporter: but republican house speaker john boehner has balked at that idea. it would take away most of his party's leverage in fiscal cliff negotiations. >> there are a lot of issues on the table that have to be resolved by the end of the year, and i think i've laid out a reasonable framework where both parties can work together, and i'm looking forward to going down to the white house on friday and beginning that conversation. >> reporter: boehner and other top republicans have proposed eliminating deductions and loopholes that benefit the wealthy instead raising their tax rates. >> we are not going to hurt our economy and make job creation more difficult which is exactly what that plan would do. >> reporter: today the president argued closing loopholes alone won't be enough to cut the deficit. he'll have that argument face to face with wayne or friday. one of the most frequent criticisms we've heard over the past few years from members on both sides if you haven't done enough to reach out and build relationships. are there concrete ways you plan to approach your relation
. >> reporter: scott, white house officials told me today they were encouraged by house speaker john boehner's comment yesterday about finding common ground. still, they reiterate today any hal is going to have to involve allowing those bush tax cuts to expire for household incomes 50er $250,000 a year. and that's something republicans adamantly oppose. the nonpartisan congressional fidget office put out a report today that stayed allowing those tax cuts to expire just for top tax earners would constrain economic juowth next year by just one- oenth of 1%. the report also showed what's at stake here if all the tax increases and spending cuts l cociate with the fiscal cliff ,re allowed to kick in, the unemployment rate will shoot up to 9.1% in 2013, from 7.9% now. hat's why vice president biden predicted today the two sides till come up with a solution. >> we're not going over the cliff. we're determined not to go over the cliff. i think better heads will prevail. >> reporter: white house officials insist they have all lhe leverage here because all the bush tax cuts are set to expire if republ
Search Results 0 to 6 of about 7 (some duplicates have been removed)